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Stock Market & Financial Investment News

News Breaks
August 7, 2014
08:58 EDTMPELMelco Crown reports Taiwan branch office indicted for alleged banking violations
Melco Crown stated earlier: "We received information today that, the Taipei District Prosecutors Office has indicted our Taiwan branch office and certain of its employees, for alleged violations of certain local banking and foreign exchange legislation. We have yet to receive the formal indictment document. We will defend vigorously any indictment brought against us, as based on Taiwan legal advice received, we believe our operations in Taiwan are in compliance with Taiwan laws. Whilst we believe the indictment will not have any immediate material impact on our business operations or financial position, we will monitor this case closely and will make further disclosure, as and when appropriate, as this case develops."
News For MPEL From The Last 14 Days
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July 2, 2015
12:11 EDTMPELJPMorgan says Macau view largely unchanged after visa news, June numbers
JPMorgan views Macau's gaming revenue for June as modestly positive given that it was down less than the prior month and better than Street expectations. The firm also said the visa policy easing news was a surprising, but welcome, development, but that its view on the Macau names was largely unchanged following the news.
11:16 EDTMPELUBS 'constructive' on Macau names after restrictions eased
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08:29 EDTMPELUBS shifts from cautious stance on Macau gaming after policy change
UBS said it is taking a more constructive stance on of Macau gaming names sector as it believes the recent visa policy change lowers fears on further local tightening. The firm also cited the lowered risk of large scale downgrades in the sector and valuations that support the sector, though it noted that larger upside depends on an earnings upgrade cycle. UBS said it is unattractive to take a negative sector position given the backdrop. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).
July 1, 2015
10:01 EDTMPELMelco Crown breaks downtrend resistance, levels to watch
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06:48 EDTMPELMacau reports June casino revenue down 36.2% to 17.36B patacas
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June 30, 2015
15:17 EDTMPELMacau visa change does not signal a change in policy, says Wells Fargo
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12:50 EDTMPELMacau transit visa rules reversed, signal end of tightening, says BofA/Merrill
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12:44 EDTMPELMacau appears to re-lengthen visas to 7 days, says Brean Capital
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10:01 EDTMPELHigh option volume stocks
High option volume stocks: DEO PE BPOP PNR JUNO OFG CMPR MPEL
10:00 EDTMPELMelco Crown spikes higher, levels to watch
The stock is up over 7.5% to $19.25 at time of writing on very heavy volume. At current price next resistance is at $19.39, the session high, and then $19.90, the 50-day moving average. The 50-day is a good proxy for a downtrend resistance line and a break above it would be bullish. Support is at $18.98.

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